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Hard Brexit, soft Brexit? U.K. can’t have its cake and eat it, too

Now that the results of the British election have thrown the issue of Brexit wide open, the alternatives for Prime Minister Theresa May, although she does not want them, are multiplying. Not a situation that makes planning compliance with regulations an easy task.

There have doubtless been economic consequences as a result of the shock referendum result a year ago. The pound’s collapse has made imports dearer, which is having a downward effect on living standards, savings, and holidays abroad; at the same time, inflation is up. But it has helped some manufacturers with substantial overseas sales, who, according to the Confederation of British Industry (CBI), have the strongest order books in three decades. U.K.-focused retailers, on the other hand, have done very poorly. And strawberry prices have soared due to the lack of EU migrant workers.